Navigating the world of credit cards can be overwhelming, especially as a student. To make things easier, we’ve summarized key information on some of the best credit card options for South African students. Understanding these options will help you make an informed decision about which card is right for you.

Navigating the world of credit cards can be overwhelming, especially as a student. To make things easier, we’ve summarized key information on some of the best credit card options for South African students. Understanding these options will help you make an informed decision about which card is right for you.

Absa Student Credit Card

• No Monthly Fee: Enjoy the benefit of not having to pay any monthly fees.

• Interest-Free Period: Up to 57 days interest-free on qualifying transactions.

• Travel Insurance: Coverage up to R1 million, perfect for students who travel.

• Rewards Program: Access to the Absa Rewards program, which offers cash back on purchases.

• Eligibility: Must have a minimum monthly income or allowance of R800, be between 18-30 years old, and be a registered full-time student.

Discovery Bank Gold Credit Card

• Monthly Fee: R30.

• Interest Rate: Starts from 2%.

• Rewards Program: Offers cash back on purchases, helping you save as you spend.

• Eligibility: There are no specific student requirements, but a credit check is required.

• African Bank Black Credit Card

• Monthly Fee: R55.

• Interest-Free Credit: 62 days of interest-free credit on all transactions.

• Credit Card Life Insurance: Provides added security and peace of mind.

• Eligibility: Must have a minimum monthly income of R5,000. There are no student-specific requirements.

Standard Bank Student Achiever Account

• Monthly Fee: R9.99.

• Free Transactions: Unlimited free swipes and 10 free debit transactions per month.

• Student Discounts: Access to student discounts and services like Varsity Vibe.

• Eligibility: Must be 16-24 years old, a registered student, and earn less than R3,000 per month if part-time.

• Wyza Card (Launching Soon)

• Introducing the Wyza Card, your ultimate financial companion designed specifically to empower South African students. Here's why the Wyza Card is the game-changer you’ve been waiting for:

• Cash Back Rewards: Earn cash back on every purchase, helping you save money on your everyday expenses. From groceries to textbooks, every swipe puts money back in your pocket.

• Mini Credit Line with Autopay: Access a mini credit line tailored to meet student needs, with automatic payments ensuring you never miss a due date. This feature makes it easy to manage your finances and avoid late fees.

• Educational Content: Gain access to exclusive educational content that helps you make informed financial decisions. Learn about budgeting, saving, and investing through our interactive modules and expert advice.

• Credit Reporting: Building your credit score has never been easier. All your payments are reported to major credit bureaus, helping you establish and improve your credit score from the get-go. This is crucial for future financial endeavors like securing loans or renting an apartment.

• Secure and User-Friendly: The Wyza Card comes with industry-standard security measures to protect your transactions and personal information. Our user-friendly app makes it simple to track your spending, manage your account, and access financial resources anytime, anywhere.

Don’t miss out on this revolutionary financial tool. Join our waiting list today and be the first to experience the benefits of the Wyza Card. Visit our website and enter your email to get started. Your financial independence begins here!

Key Factors to Consider

When choosing a student credit card, consider the following factors:

Monthly Fees: How much will you be paying just to have the card?

Interest Rates: What are the interest rates on purchases and balances?

Rewards/Benefits: What perks come with the card? This could include cash back, travel insurance, or discounts.

Eligibility Requirements: What do you need to qualify for the card?

Recommendations

• Absa Student Credit Card: This card is highly tailored for full-time students, offering no monthly fee and several student-friendly features.

• Discovery Bank Gold Credit Card: A good option if you meet the general credit requirements and are looking for a low-interest rate and rewards.

• African Bank Black Credit Card: Suitable if you have a steady income of at least R5,000 and can benefit from the interest-free period.

• Standard Bank Student Achiever Account: Ideal for students seeking a low-cost banking option with perks like free transactions and student discounts.

• Wyza Card: The soon-to-launch Wyza Card is perfect for students looking to build credit, earn cash back, and access educational content. Sign up for the waiting list to be among the first to benefit from its features.

By evaluating these factors and considering your personal financial situation, you can choose the credit card that best meets your needs. Happy banking!